How to Borrow

The registration process is quick and easy. A Borrower simply clicks on the Sign up Now icon, enters some basic information, pays the registration fees and uploads the documents required.

Loan Application Process :

  • Create your loan account by duly filling in all sections of the application
  • Post verification, state your requirement on the borrower listing with all relevant details
  • Discuss and finalize terms with your lender and receive the loan amount

Lender Eligibility Criteria :

  • Valid government issued identity proof
  • Valid bank account
  • Income proof ( salaried / self-employed )

Based on these documents, every borrower will be identity-verified, credit-checked and risk-assessed and our automated underwriting engine will determine the maximum loan amount, rate of interest and the loan tenure at which the borrower can take a loan.

The Bidding

Once, the loan is listed, multiple lenders can bid to provide loan to the borrowers for a loan amount lower than and rate of interest similar or lower than that assigned to the borrower. Even borrowers can approach multiple lenders with their loan requests. It's a reverse auction model wherein the borrower is empowered to accept or reject a lender's offer.

Loan Disbursal

Loan disbursal begins only after :
  1. Minimum 75% funding of the loan amount has been achieved
  2. Official loan agreement between Lender and Borrower has been signed
  3. Borrower has provided the required number of Post-Dated Cheques towards EMIs for each Lender
  4. Relevant Administrative Fees has been paid to Mytrustin by the Borrower

The Agreement

Mytrustin facilitates the signing of a legally-binding agreement between the Borrower and the Lenders. This can be signed through a manual process or through e-Sign.


Along with the agreement, borrower has to provide post-dated cheques towards EMI payments. However, in order to streamline this process, we are introducing e-Repay. In simple words, e-Repay allows borrowers to repay their EMIs online via Electronic Money Transfer and Auto-Debit facilities. This amount is collected by Mytrustin in a virtual collection account and then transferred to the Lenders Bank account.

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